Value-Based Care
For the last several years The Centers of Medicare and Medicaid
Services have been outspoken regarding the need to address proactively keeping
people healthy, instead of waiting until they get sick and require expensive
services. This represents a significant
change to the US healthcare system, and is known as value-based care.
In value-based care, providers are rewarded for the relative
health of their patients, instead of getting paid to treat them when they are
ill. The management of chronic conditions is a key to lowering
healthcare costs and improving patient outcomes.
What’s the Cost?
60% of all Americans have at least one chronic condition, and
40% have two or more. Heart disease, cancer and diabetes are the leading
causes of death and disability in the United States. They are also leading
drivers of the nation’s $3.3 trillion in annual health care
costs. The CDC estimates that eliminating the
three risk factors – poor diet, inactivity, and smoking – would prevent: 80% of
heart disease and stroke; 80% of type 2 diabetes; and, 40% of cancer.
The Need for
Incentives
The interesting twist is that when asked, US consumers state
that they want more incentives for healthy behaviors from their health
insurance companies. In a survey of 2500 consumers conducted by
survey firm Survata in 2018, the question was asked: What are the top three (3)
services that would help to most improve your current level of
satisfaction with your health plan? The results across the entire survey group
were clear – the most popular response, with 49%, was “More incentives for
healthy behaviors” which was a virtual tie with 49% stating “Tools and
information to help me understand my benefits.”
Perhaps the most startling result came from Millennials, 53% of
whom want more incentives for healthy behaviors from their health plan, and 44%
stated that those incentives are missing and impacting their satisfaction with
their health plan.
How Employers Can Help
Employers can have a fundamental role in impacting health and
well-being. In a recent study conducted by Aflac, 61% of employees agree that
they have made healthier lifestyle choices because of their company’s wellness
program. A comprehensive and holistic wellness program will help employees
change their lifestyle and make better choices, resulting in higher
productivity and job satisfaction. In addition the same report finds that Millennials, more than any other
group, factor in benefits like health and wellness programs in deciding whether
to take or remain in a job.
Interestingly, among those incentives and programs for healthy
behaviors, it has been proven that cash rewards do not have a sustained impact
on life habits. IValue-Based Care
For the last several years The Centers of Medicare and Medicaid
Services have been outspoken regarding the need to address proactively keeping
people healthy, instead of waiting until they get sick and require expensive
services. This represents a significant
change to the US healthcare system, and is known as value-based care.
In value-based care, providers are rewarded for the relative
health of their patients, instead of getting paid to treat them when they are
ill. The management of chronic conditions is a key to lowering
healthcare costs and improving patient outcomes.
What’s the Cost?
60% of all Americans have at least one chronic condition, and
40% have two or more. Heart disease, cancer and diabetes are the leading
causes of death and disability in the United States. They are also leading
drivers of the nation’s $3.3 trillion in annual health care
costs. The CDC estimates that eliminating the
three risk factors – poor diet, inactivity, and smoking – would prevent: 80% of
heart disease and stroke; 80% of type 2 diabetes; and, 40% of cancer.
The Need for
Incentives
The interesting twist is that when asked, US consumers state
that they want more incentives for healthy behaviors from their health
insurance companies. In a survey of 2500 consumers conducted by
survey firm Survata in 2018, the question was asked: What are the top three (3)
services that would help to most improve your current level of
satisfaction with your health plan? The results across the entire survey group
were clear – the most popular response, with 49%, was “More incentives for
healthy behaviors” which was a virtual tie with 49% stating “Tools and
information to help me understand my benefits.”
Perhaps the most startling result came from Millennials, 53% of
whom want more incentives for healthy behaviors from their health plan, and 44%
stated that those incentives are missing and impacting their satisfaction with
their health plan.
How Employers Can Help
Employers can have a fundamental role in impacting health and
well-being. In a recent study conducted by Aflac, 61% of employees agree that
they have made healthier lifestyle choices because of their company’s wellness
program. A comprehensive and holistic wellness program will help employees
change their lifestyle and make better choices, resulting in higher
productivity and job satisfaction. In addition the same report finds that Millennials, more than any other
group, factor in benefits like health and wellness programs in deciding whether
to take or remain in a job.
Interestingly, among those incentives and programs for healthy
behaviors, it has been proven that cash rewards do not have a sustained impact
on life habits. Incentives such as gift cards for healthy habits make a
long-lasting difference, helping to contain costs of healthcare, improve
overall health outcomes and boost employee engagement all at the. .